License tax; exempt business providing electronic payment services for financial institutions. (HB2388)

Introduced By

Del. Joe May (R-Leesburg)


Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law


Local license tax incentive and grants for certain businesses. Permits any locality to exempt in whole or in part from local license taxes businesses that are primarily engaged in providing electronic payments processing services for financial institutions, that first have a definite place of business within a Multicounty Transportation Improvement District on or after July 1, 2008, and upon whose property a special improvements tax is being levied under 15.2-4607. The bill also authorizes any locality to provide the same businesses with grants or contractual payments or benefits when warranted by the economic or other benefit the locality will receive. The provisions of the bill expire on June 30, 2016. Read the Bill »


Bill Has Failed


01/09/2007Prefiled and ordered printed; offered 01/10/07 071945400
01/09/2007Referred to Committee on Finance
01/18/2007Assigned Finance sub: #1 (Orrock)
01/26/2007Impact statement from TAX (HB2388)